Fuel price hike

KUALA LUMPUR: There will be no hike in electricity tariff for all categories of domestic users as well as commercial and industries for the period between July to December this year, according to Energy, Science, Technology, Environment and Climate Change Minister Yeo Bee Yin. She said based on the imbalance cost pass through (ICPT) mechanism, the cost of fuel and the increase of other generating costs that need to be imposed on the users through the surcharge for the same period has amounted to RM1.592 billion, which is an increase of 0.39 cents per kilowatt-hour (kWh). However, she said to reduce the burden of the people as well as the commercial and industrial sectors, the government took various steps to reduce the cost that has to be imposed on the users. “The ministry through the Energy Commission has made adjustments on the outcome and electricity costs in 2018 and 2019 under the Incentive-Based-Regulation (IBR) based on the provisions in the Regulatory Implementation … [Read more...] about No hike in electricity tariff until December: Yeo Bee Yin

Oil price hike seen this week Danessa Rivera (The Philippine Star) - May 19, 2019 - 12:00am MANILA, Philippines — Oil prices are seen to increase this week as tensions in the Middle East pushed up global crude prices. Unioil Petroleum Philippines said in its forecast that fuel prices are expected to get a significant rise next week. “Diesel and gasoline should go up by P0.80 to P1.00 per liter,” it said in its weekly forecast. During the past trading week, concerns over the global supply pushed oil prices higher amid rising tensions in the Middle East. According to a report by Reuters, two Saudi Arabian oil tankers were attacked off the coast of the United Arab Emirates. It was later reported that Houthi rebels attacked the tankers, which was described by Saudi Arabia as an attempt to undermine the security of crude supplies amid tensions between the US and Iran. As counterattack, a Saudi-led military … [Read more...] about Oil price hike seen this week

Central Visayas workers seek P386 pay hike Mayen Jaymalin (The Philippine Star) - May 8, 2019 - 12:00am MANILA, Philippines — Workers in Central Visayas are asking for an increase in their daily take home pay. The Trade Union Congress of the Philippines (TUCP) filed a petition for an across-the-board increase of P386 before the Regional Tripartite Wages and Productivity Board yesterday. TUCP president Raymond Mendoza said the pay hike is needed to meet the “basic nourishment needs” and address the health problems of workers in the region. Mendoza said the current salary of minimum wage earners in Central Visayas could afford only “survival meals,” such as instant noodles, canned sardines, tocino, longganisa, egg and pan de sal. “Forcing workers and their families to subsist on nutritionally deficient meals for a long period will definitely have bigger repercussions to businesses and bigger … [Read more...] about Central Visayas workers seek P386 pay hike

KUALA LUMPUR: Chicago soybean futures on Monday dropped to their lowest in over seven months, extending declines into a seventh session amid expectations that a lack of U.S. corn planting due to delays in rain could fuel a shift to more soybean acreage. The market's focus was also on the intensifying trade dispute between Washington and Beijing, with U.S. President Donald Trump announcing on Sunday that he would hike U.S. tariffs on $200 billion worth of Chinese goods this week. The most active soybean futures on the Chicago Board of Trade were down 1.9 percent at $8.26-1/4 a bushel, their lowest since Sept. 19. and on track for a seventh straight session of losses. The most active corn futures also dropped, declining 2.6 percent to an over one-week low of $3.61-1/4 a bushel. Corn looked set to snap a rally that had earlier seen eight consecutive sessions of gains on the back of concerns over possible yield declines due to excessive rains and flooding this spring. "The market's (view … [Read more...] about U.S. soybean prices drop more than 2 pct to 7-mth low